Guidewire Software (NYSE:GWRE) Coverage Initiated by Analysts at Guggenheim

Stock analysts at Guggenheim assumed coverage on shares of Guidewire Software (NYSE:GWRE) in a report issued on Thursday. The brokerage set a “buy” rating and a $180.00 price target on the technology company’s stock. Guggenheim’s target price points to a potential upside of 34.31% from the company’s previous close.

GWRE has been the topic of a number of other research reports. Wells Fargo & Company cut their price objective on shares of Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, June 5th. The Goldman Sachs Group decreased their target price on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Zacks Research lowered shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Citizens Jmp reduced their price target on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a research report on Friday, June 5th. Finally, Stifel Nicolaus decreased their price objective on Guidewire Software from $225.00 to $200.00 and set a “buy” rating for the company in a report on Friday, June 5th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.00.

Guidewire Software Trading Down 6.0%

GWRE opened at $134.01 on Thursday. The firm has a market cap of $11.16 billion, a price-to-earnings ratio of 72.44 and a beta of 0.95. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51. Guidewire Software has a 12 month low of $102.30 and a 12 month high of $272.60. The stock has a fifty day moving average price of $132.56 and a 200-day moving average price of $142.10.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The company had revenue of $372.54 million for the quarter, compared to the consensus estimate of $355.92 million. During the same quarter last year, the company earned $0.88 earnings per share. The firm’s revenue for the quarter was up 26.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Guidewire Software will post 1.83 earnings per share for the current fiscal year.

Insider Activity at Guidewire Software

In other Guidewire Software news, CAO David Franklin Peterson sold 246 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total transaction of $29,210.04. Following the transaction, the chief accounting officer owned 12,287 shares in the company, valued at approximately $1,458,958.38. This represents a 1.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael George Rosenbaum sold 1,200 shares of the firm’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $138.47, for a total transaction of $166,164.00. Following the completion of the transaction, the chief executive officer directly owned 194,976 shares of the company’s stock, valued at approximately $26,998,326.72. This represents a 0.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 30,193 shares of company stock worth $3,792,858 in the last 90 days. 0.46% of the stock is owned by insiders.

Institutional Trading of Guidewire Software

Several large investors have recently made changes to their positions in the business. Capital World Investors purchased a new position in shares of Guidewire Software during the 4th quarter valued at about $202,405,000. Principal Financial Group Inc. boosted its stake in shares of Guidewire Software by 547.3% in the first quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company’s stock worth $176,537,000 after buying an additional 997,992 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Guidewire Software by 405.1% in the second quarter. Alliancebernstein L.P. now owns 538,303 shares of the technology company’s stock worth $126,743,000 after buying an additional 431,725 shares during the last quarter. Stockbridge Partners LLC grew its holdings in Guidewire Software by 39.0% during the fourth quarter. Stockbridge Partners LLC now owns 1,445,206 shares of the technology company’s stock worth $290,501,000 after acquiring an additional 405,850 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Guidewire Software by 179.0% during the first quarter. Assenagon Asset Management S.A. now owns 628,759 shares of the technology company’s stock worth $94,037,000 after acquiring an additional 403,370 shares during the period.

Guidewire Software Company Profile

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.